PEER COMPANIES

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PEER COMPANIES

NEW DELHI: Highest F&O rollovers in FY19 so far and neutral cues from Asian markets signal a flat-to-positive start for domestic market on Friday.

Let's check out what all might matter to Dalal Street during the day:

Singapore trading sets stage for flat startNifty futures on the Singapore Stock Exchange were trading flat at 11,167, indicating a tepid start for the Nifty50.
Tech view: Breakout on Bank Nifty lifts moodNifty50 on Thursday formed a small bullish candle on the daily chart, as supports continued to shift higher, as suggested by the formation of a higher high and higher low pattern on the daily chart. Analysts are positive on the short-term index prospects, thanks to a breakout on Bank Nifty. They now see an initial target of 11,241 in the near future.

July market-wide rollovers highest in FY19Rollovers of Nifty stood at 74 per cent, higher than the three-month average of 66.3 per cent and Bank Nifty rolls were 78 per cent against the three-month average of 76.5. Market-wide rollovers stood at 90 per cent (highest in FY19) versus 84 per cent in the previous month.

Asian shares mixedAsian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-US trade dispute kept investors in the region cautious, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade. Japan’s Nikkei eked out a 0.3 per cent gain though it was capped by worries that the Bank of Japan could scale down its asset purchase at its upcoming policy review next week.

Oil prices edge lowerOil prices edged down on Friday after three days of gains, but were still supported by Saudi Arabia’s halt on transporting crude through a key shipping lane, falling US inventories and easing trade tensions between Washington and Europe, Reuters reported. Brent futures were down 6 cents at $74.48 a barrel by 0043 GMT, after gaining 0.8 percent on Thursday.

US stocks end higherThe Dow Jones Industrial Average index rose 112.97 points, or 0.44 per cent, to 25,527.07, the S&P500 index lost 8.63 points, or 0.30 per cent, to 2,837.44, and the Nasdaq Composite index dropped 80.05 points, or 1.01 per cent, to 7,852.19, Reuters reported.

ECB's Mario Draghi backs late 2019 hikeThe European Central Bank’s president Mario Draghi backed investor expectations for a rate hike in October 2019, saying on Thursday the risks from an unpredictable global trade conflict did not warrant any deviation from its plan now.

Re relatively outperforms EM peersThe rupee is a relative outperformer among emerging market peers in the past one month, signalling that the worst might be over for the local unit that has fallen less than the currencies of competing major economies against the dollar. In the past one month, the rupee has lost 0.78% to the dollar but now ranks fifth among Asian currencies: Seven emerging market units, such as the Malaysian ringgit, Chinese yuan, South Korean won, and Indonesian rupiah, have fared worse.

RIL, ICICI Bank Q1 results todayReliance Industries, HCL Technologies, ICICI Bank, Bank of Baroda, JSW Energy and IOB are among companies that will report their quarterly results on Friday. Equitas, Jubilant Life Sciences, Heritage Foods and TRF will be other companies scheduled to report their earnings during the day.